{
  "ticker": {
    "uuid": "c0de4652-4cea-464e-8ea9-3431b1c0f1a1",
    "symbol": "SPX5",
    "name": "State Street SPDR S&P 500 UCITS ETF",
    "exchange": "LSE",
    "country": "GB",
    "assetType": "etf"
  },
  "methodBoundary": "Trend Architecture is a weekly structural classification, not a forecast, probability of return, recommendation or execution signal. Confidence measures geometric agreement and external confirmation only.",
  "analysis": {
    "eligible": true,
    "as_of": "2026-08-07",
    "benchmark": "^FTSE",
    "stage": 2,
    "stage_name": "Advancing",
    "phase": "2b",
    "phase_label": "Stage 2B \u00b7 Advancing",
    "transition": "stage_2_healthy",
    "transition_label": "Stage 2 trend intact",
    "confidence": 93.2,
    "architecture_regime": "upward_expansion",
    "architecture_regime_label": "Upward Expansion",
    "architecture_modifier": "Established expansion",
    "architecture_gate": "up",
    "architecture_direction": 79.898,
    "architecture_energy": 53.634,
    "architecture_maturity": 87.104,
    "architecture_confidence": 63.512,
    "architecture_tenure": "Established",
    "architecture": {
      "interpretation": {
        "headline": "The weekly architecture is expanding upward.",
        "body": "Trend and Activity show sustained positive alignment with constructive price acceptance. Directional energy remains positive; cooling within this regime can indicate that it is maturing."
      },
      "scores": {
        "balance": 26.47,
        "rotation_up": 47.69,
        "upward_expansion": 79.26,
        "deceleration": 71.38,
        "rotation_down": 29.01,
        "downward_expansion": 8.26
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      "activity_lines": [
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      "activity_state": "Moderate",
      "activity_direction": "Contracting",
      "rotation_direction": "Weakening",
      "price_acceptance": 0.5
    },
    "latest_close": 574.450012,
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    "distance_from_trend": 0.081145,
    "trend_direction": "Improving",
    "fair_value": 447.469311,
    "distance_from_fair_value": 0.283775,
    "fair_value_direction": "Improving",
    "relative_strength": 2.497853,
    "relative_strength_direction": "Weakening",
    "price_momentum": 0.137102,
    "excess_performance": 0.085866,
    "evidence": [
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        "label": "Price vs Trend",
        "positive": true,
        "value": 0.081145,
        "read": "Above"
      },
      {
        "label": "Trend direction",
        "positive": true,
        "value": 0.032994,
        "read": "Rising"
      },
      {
        "label": "Price vs current Fair Value",
        "positive": true,
        "value": 0.283775,
        "read": "Premium"
      },
      {
        "label": "Fair Value direction",
        "positive": true,
        "value": 0.022617,
        "read": "Closing upward"
      },
      {
        "label": "Relative Strength vs benchmark",
        "positive": true,
        "value": 0.024979,
        "read": "Leading"
      },
      {
        "label": "Relative strength direction",
        "positive": false,
        "value": -0.015258,
        "read": "Weakening"
      },
      {
        "label": "Price momentum",
        "positive": true,
        "value": 0.137102,
        "read": "Positive"
      },
      {
        "label": "Volume balance",
        "positive": true,
        "value": 1.114485,
        "read": "Demand-led"
      }
    ],
    "volume": {
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      "relative_activity": 0.981727,
      "balance": 1.114485,
      "dry_up": 0.949087,
      "accumulation_observations": 3,
      "distribution_observations": 2
    },
    "risk": {
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      "annualized_volatility": 0.122569,
      "from_high_reference": -0.005832,
      "from_low_reference": 0.228517
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    "levels": {
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      "fair_value_reference": 447.469311,
      "structural_low": 480.23999,
      "invalidation": "A sustained loss of Trend, followed by flattening structure and weakening relative strength, challenges the advancing diagnosis."
    },
    "outcomes": [
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        "horizon": "Near term",
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        "directional_follow_through": 0.666667,
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        "sufficient": true
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        "horizon": "Intermediate",
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      },
      {
        "date": "2026-07-24",
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      },
      {
        "date": "2026-07-31",
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        "typical_volume": 43403.05,
        "trend": 529.41234,
        "fair_value": 445.966936,
        "relative_strength": -1.222123,
        "stage": 2,
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        "modifier": "Established expansion",
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        "energy": 39.485159,
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      },
      {
        "date": "2026-08-07",
        "close": 574.450012,
        "volume": 42108,
        "typical_volume": 42891.75,
        "trend": 531.335072,
        "fair_value": 447.469311,
        "relative_strength": 2.497853,
        "stage": 2,
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        "modifier": "Established expansion",
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    ],
    "method": {
      "price_basis": "completed market observations",
      "trend": "Trend provides the primary directional reference.",
      "fair_value": "Fair Value provides long-term price context and is not a forecast or target.",
      "relative_strength": "Relative Strength shows leadership or lagging performance against the market benchmark.",
      "classification": "The SM framework combines Trend, Activity, Fair Value, Relative Strength and participation into a structural read."
    }
  }
}